Playmaker Capital has released its Q1 2022 financial report. During the quarter that ended March 31, 2022, the company reported a 37% increase in revenue compared to the corresponding 2021 period, reflecting a total of $5.8m.
Revenue during the past 12 months rose by 78% and reached $25.4m. The company reported an increase in adjusted EBITDA of 16% for Q1 2022 when compared to the previous year’s quarter, with a total of $1.7m.
Adjusted EBITDA for the 12-month period reflected similar trends to the company’s rise in revenue, increasing by 80% to $9.5m.
Playmaker CFO Mike Cooke said: “Our operating segments continued to drive profitable growth in Q1 2022, delivering a 37% increase in pro forma revenue compared to Q1 2021, while contributing $1.6m of operating income and $1.7m of adjusted EBITDA in the quarter.
“We also continue to focus on strengthening our balance sheet, closing a $15m credit facility during the quarter. The addition of such a significant amount of available capital, combined with $5.1m of cash on hand at quarter-end, provides us with flexibility to continue to opportunistically pursue our M&A strategy.”
Playmaker’s report also highlighted successful efforts to increase North American expansion during the period. The company recently acquired The Sports Drop, a US media company. The transaction also included an addition to Playmaker’s senior leadership team, with Mike Bellom stepping into the role of Head of Paid Media.
In Latin America, Playmaker recently signed a deal to purchase Futmarketing, a digital media company in Brazil that focuses on providing editorial content to soccer platforms.
Playmaker CEO Jordan Gnat commented: “We are focused on the profitability of our company and ensuring we invest in people and technology that drive efficiencies and create the necessary foundation for both sustainable organic growth and the ability to integrate new businesses into our ecosystem.
“We continue to see significant growth of the audiences we engage across our ecosystem. We have built a significant multi-channel platform of assets with leadership teams that are working together to leverage each other’s strengths.”
Playmaker properties has gained more than 106 million followers on social media through various platforms such as Facebook, Twitter, TikTok, Instagram, YouTube and Twitch, according to its latest report.